Telecom operator Reliance Jio, owned by Reliance Industries, October 18 reported a 45.4 percent year-on-year (YoY) jump in net profit to Rs 990 crore on a standalone basis in the July-September quarter of FY20 helped by growth in subscriber base. Profit in the same quarter last year was Rs 681 crore.
Jio's operating revenue increased 33.7 percent to Rs 12,354 crore in Q2 from Rs 9,240 crore in the corresponding quarter of 2018-19.
"Jio crossed the 350 million subscriber mark to remain the world's fastest-growing digital services company, and we are still adding more than 10 million new customers every month. Jio is not only India's largest telecom enterprise in terms of subscribers and revenues but has also become the Digital Gateway of India," Reliance Industries Chairman and Managing Director Mukesh D Ambani said in a statement.
The company's average revenue per user for the quarter was Rs 120.
Jio's subscriber base reached at 35.52 crore at the end of the reported quarter from 33.13 crore in the previous quarter.
Parent Reliance Industries (RIL) reported the highest ever quarterly consolidated profit of Rs 11,262 crore in Q2FY20, beating analyst expectations.
Profit grew by 11.46 percent sequentially and the growth on year-on-year (YoY) basis stood at 18.34 percent.
Consolidated revenue increased 3.63 percent YoY to Rs 148,526 crore in the quarter ended September 2019, but the same fell 5.4 percent sequentially.
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
With inputs from PTI
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